Financial Performance - Operating income decreased by 9.03% to CNY 425,359,611.36 year-on-year[5] - Net profit attributable to shareholders increased by 6.06% to CNY 48,839,023.34 compared to the same period last year[5] - Total operating revenue for Q1 2020 was CNY 425,359,611.36, a decrease of 9.05% compared to CNY 467,581,541.58 in Q1 2019[25] - Net profit for Q1 2020 was CNY 55,722,221.69, an increase of 14.66% compared to CNY 48,472,082.34 in Q1 2019[26] - The company's operating revenue for Q1 2020 was ¥328,955,247.28, a decrease of 30.9% compared to ¥475,733,191.39 in Q1 2019[30] - The net profit for Q1 2020 was ¥26,490,067.62, down 43.5% from ¥47,002,185.85 in Q1 2019[31] - The total comprehensive income for Q1 2020 was ¥26,490,067.62, compared to ¥47,002,185.85 in Q1 2019, reflecting a significant decline[32] Cash Flow - Cash flow from operating activities rose by 33.06% to CNY 51,187,127.70 year-on-year[5] - The company reported a net cash flow from operating activities of RMB 51,187,127.70, an increase of 33.06% compared to the same period last year[12] - The net cash flow from operating activities was -306,083,514.75 RMB, indicating a significant decrease compared to -50,669,342.40 RMB in the previous year[37] - Total cash inflow from financing activities reached 1,240,800,000.00 RMB, while cash outflow was 360,892,637.44 RMB, resulting in a net cash flow of 879,907,362.56 RMB[37] - The cash flow from financing activities included 1,240,800,000.00 RMB from loans, reflecting a strong reliance on debt financing[37] - The cash flow from operating activities increased to ¥51,187,127.70 in Q1 2020, up 33.0% from ¥38,470,609.49 in Q1 2019[33] Assets and Liabilities - Total assets increased by 15.76% to CNY 5,796,976,661.73 compared to the end of the previous year[5] - The company’s total liabilities amounted to RMB 2,960,603,576.52, up from RMB 2,379,834,111.52 in the previous year[18] - The total liabilities increased to CNY 2,963,933,900.37 as of March 31, 2020, compared to CNY 2,437,979,543.17 at the end of 2019[23] - The company’s cash and cash equivalents increased to RMB 1,439,325,538.55 from RMB 506,540,760.64, indicating improved liquidity[17] - The company reported a total cash and cash equivalents balance of 1,322,072,875.96 RMB at the end of the period, up from 388,527,144.15 RMB at the beginning[34] Shareholder Information - The number of shareholders reached 14,820 at the end of the reporting period[9] - The equity attributable to shareholders of the parent company was CNY 2,320,133,523.13, an increase from CNY 2,133,330,795.60 at the end of 2019[23] - Shareholders' equity totaled CNY 2,627,890,577.37, with retained earnings of CNY 910,772,295.11[41] Inventory and Receivables - Accounts receivable decreased by 35.52% to CNY 1,145,943,269.83, attributed to increased sales collections[11] - Inventory increased by 62.22% to CNY 302,841,652.21, reflecting preparations for sales[11] - The company’s accounts receivable decreased to RMB 1,145,943,269.83 from RMB 1,777,223,828.26, showing a reduction in outstanding payments[17] - Accounts receivable increased to CNY 968,054,622.86 from CNY 1,552,859,618.16 at the end of 2019[21] Financing Activities - The company issued convertible bonds totaling RMB 696.80 million, with funds raised amounting to RMB 69,680.00 million, which have been listed on the Shanghai Stock Exchange[13] - The company’s net cash flow from financing activities surged by 537.27% to RMB 909,470,994.74, largely due to the issuance of convertible bonds[12] Other Financial Metrics - The weighted average return on equity decreased by 0.27 percentage points to 2.04%[5] - The company reported a total of CNY 487,063.40 in non-recurring gains and losses for the period[7] - The company’s other income dropped by 85.42% to RMB 564,664.04, primarily due to a decrease in government subsidies received[12] - The company reported a decrease in research and development expenses to CNY 24,968,763.10 in Q1 2020 from CNY 25,679,428.84 in Q1 2019[26] - The company's financial expenses increased to ¥11,908,761.59 in Q1 2020, compared to ¥9,735,685.67 in Q1 2019[30]

Financial Performance - The company's operating revenue for 2019 was CNY 3,306,617,441.62, representing a 42.78% increase compared to CNY 2,315,957,350.09 in 2018[21] - The net profit attributable to shareholders of the listed company reached CNY 354,312,359.11, a 32.01% increase from CNY 268,395,945.04 in the previous year[21] - The net profit after deducting non-recurring gains and losses was CNY 346,629,624.07, which is a significant increase of 136.59% compared to CNY 146,510,746.80 in 2018[21] - The cash flow from operating activities was CNY 419,128,935.50, a recovery from a negative cash flow of CNY -97,766,088.23 in 2018[21] - Total assets at the end of 2019 amounted to CNY 5,007,724,688.89, reflecting a 41.67% increase from CNY 3,534,798,049.40 at the end of 2018[21] - The net assets attributable to shareholders of the listed company were CNY 2,391,183,204.12, which is a 14.68% increase from CNY 2,085,054,118.52 in 2018[21] - The company achieved a weighted average return on equity of 15.91%, an increase of 2.34 percentage points from the previous year[24] - The profit before tax was ¥460,048,958.36, marking a 39.00% increase year-on-year[50] Dividend Policy - The company proposed a cash dividend of CNY 3 per 10 shares (including tax) for the 2019 fiscal year, pending approval at the annual shareholders' meeting[5] - In 2019, the cash dividend amount was 93,183,000 RMB, representing 26.30% of the net profit attributable to ordinary shareholders[114] - The cash dividend per 10 shares was 3 RMB in 2019, compared to 2.4 RMB in 2018 and 2 RMB in 2017[114] - The profit distribution ratio for 2019 was 26.30%, indicating a consistent approach to returning value to shareholders[114] - The company's cash dividend policy remained unchanged during the reporting period, with a clear standard and proportion for profit distribution[113] Research and Development - The company holds 483 national patents and 15 international invention patents, reflecting its strong R&D capabilities[43] - The company has a professional R&D team of approximately 200 people, contributing to its innovation and technology advancement[44] - Research and development expenses rose by 44.21% to ¥171,062,963.67 from ¥118,618,653.71, indicating a strong focus on innovation[53] - The total R&D investment accounted for 5.17% of the operating revenue[65] - The company is committed to enhancing its research and development capabilities by collaborating with renowned universities and research institutions[106] Market Position and Strategy - The company operates in the concrete admixture industry, ranking first in comprehensive evaluations for several consecutive years from 2014 to 2019[33] - The company completed the acquisition of 58% of Jiangsu Provincial Construction Engineering Quality Testing Center Co., Ltd., enhancing its research and sales capabilities in the construction materials sector[39] - The company plans to continue expanding its market presence with new technologies and products, which have already begun to drive sales growth[54] - The company aims to expand its overseas market presence in Southeast Asia, Central Asia, and Africa, leveraging the "Belt and Road" initiative[105] - The company is focusing on enhancing its product offerings and expanding its market reach through strategic initiatives and potential acquisitions[54] Customer and Supplier Relations - The top five customers contributed sales of 649.92 million RMB, accounting for 19.66% of the annual sales total[62] - The top five suppliers accounted for 713.64 million RMB in purchases, representing 40.09% of the total annual purchases[62] Environmental and Social Responsibility - The company has invested CNY 402.32 million in environmental protection, accounting for 0.12% of total revenue[93] - The company has established an environmental management system and increased investment in environmental protection facilities to reduce emissions and improve production efficiency[166] - The company actively participated in community support activities, helping impoverished families through local charity initiatives[165] - The company donated 500,000 yuan to Southeast University for educational development and 200,000 yuan to the Jiangsu Provincial Poverty Alleviation Foundation to support impoverished communities[165] Corporate Governance and Shareholder Commitments - The company has commitments from major shareholders to not transfer or manage their shares for 36 months post-IPO, ensuring stability in shareholding[116] - The company has commitments from directors and senior management to not transfer their shares for 12 months post-IPO, further supporting share price stability[118] - The company has outlined specific plans for share repurchase and management to stabilize share prices, subject to shareholder approval[116] - The controlling shareholder, Jiangsu Bote, committed to stabilizing the company's stock price by purchasing shares within 10 trading days after the shareholders' meeting, with a total purchase amount not exceeding 30% of the cash dividends received since the company's listing[120] Risks and Challenges - The concrete admixture industry is experiencing intense competition, with many companies expanding capacity, leading to increased market supply and potential risks to profitability[109] - The company faces risks related to fluctuations in raw material prices, particularly those derived from petroleum products, which could impact profitability[110] Management and Leadership - The company has maintained a consistent leadership team, with key executives holding positions since May 2018, ensuring stability in management[190] - The leadership structure includes a mix of technical and managerial expertise, positioning the company for future growth and market expansion[190] - The company has a diverse executive team, with a mix of educational backgrounds and extensive experience in the industry[190] Shareholder Structure - The largest shareholder, Jiangsu Bot New Materials Co., Ltd., holds 136,000,000 shares, representing 43.78% of total shares[176] - The second-largest shareholder, Miao Changwen, holds 17,750,000 shares, accounting for 5.71% of total shares[176] - The company has a total of 136,000,000 restricted shares that will become tradable in November 2020, with a lock-up period of 36 months[178] - The company reported a growth rate of not less than 24% in operating income for 2019, based on 2017 revenue figures, to unlock additional shares for certain shareholders[178]

Financial Performance - Operating revenue for the first nine months reached CNY 2,301,249,850.23, a 43.84% increase year-on-year[6] - Net profit attributable to shareholders rose by 12.74% to CNY 250,636,506.47 for the same period[6] - The company reported a 141.21% increase in net profit after deducting non-recurring gains and losses, totaling CNY 247,242,319.94[6] - Basic and diluted earnings per share increased by 10.96% to CNY 0.81[7] - The net profit attributable to shareholders increased by 141.21% to ¥247,242,319.94, driven by increased sales revenue and improved gross margin[15] - The total profit for Q3 2019 was ¥194,845,728.77, compared to ¥153,558,777.44 in the same period of 2018, reflecting an increase of 26.9%[35] - Net profit for Q3 2019 was ¥127.50 million, compared to ¥48.49 million in Q3 2018, representing a 163.5% increase[28] - The net profit attributable to shareholders of the parent company for Q3 2019 was ¥116.77 million, compared to ¥47.90 million in Q3 2018, reflecting a 143.5% increase[29] Cash Flow - The net cash flow from operating activities was CNY 213,619,414.86, a significant recovery from a loss of CNY 27,707,047.61 in the previous year[6] - The company reported a total cash flow from operating activities for the first three quarters of 2019 was ¥1,563,730,208.55, compared to ¥1,057,574,240.29 in the same period of 2018, indicating a growth of 48.0%[37] - Operating cash inflow for Q3 2019 was CNY 1,693,528,824.76, an increase from CNY 1,291,561,309.04 in Q3 2018, representing a growth of approximately 31.2%[38] - Net cash flow from operating activities for the first three quarters of 2019 was CNY 295,062,379.74, compared to a negative cash flow of CNY -91,758,991.75 in the same period of 2018[42] Assets and Liabilities - Total assets increased by 34.11% to CNY 4,740,620,220.59 compared to the end of the previous year[6] - The company's total assets amounted to ¥2,986,355,020.18, up from ¥2,260,640,492.17 in the previous year, indicating strong growth in its asset base[19] - Total liabilities reached ¥2,228,874,531.66, up from ¥1,441,199,491.34, indicating a growth of around 54.7%[21] - Current liabilities totaled ¥2,154,209,089.83, compared to ¥1,388,523,421.34, reflecting an increase of about 55.3%[21] - The total liabilities to equity ratio was approximately 0.69, indicating a moderate level of leverage[47][48] Shareholder Information - The total number of shareholders reached 20,026 by the end of the reporting period[11] - The top ten shareholders held a combined 63.29% of the company's shares, with Jiangsu Bote New Materials Co., Ltd. being the largest shareholder at 43.78%[12] Research and Development - Research and development expenses increased by 60.16% to ¥121,787,183.65, indicating the company's commitment to enhancing its innovation capabilities[14] - R&D expenses in Q3 2019 amounted to ¥43.29 million, a significant increase of 83.5% from ¥23.60 million in Q3 2018[27] - Research and development expenses for the first three quarters of 2019 totaled ¥71,665,561.56, up 26.7% from ¥56,562,049.52 in the same period of 2018[34] Market Development - The company emphasized significant growth in main product orders due to enhanced market development efforts[7] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[36]

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 1,389,748,078.95, representing a 45.34% increase compared to CNY 956,200,216.16 in the same period last year[17]. - The net profit attributable to shareholders of the listed company decreased by 23.25% to CNY 133,869,974.30 from CNY 174,417,683.22 in the previous year[17]. - Basic earnings per share decreased by 24.56% to CNY 0.43 from CNY 0.57 in the same period last year[18]. - The weighted average return on net assets decreased by 2.8 percentage points to 6.23% compared to 9.03% in the previous year[18]. - The total assets increased by 30.22% compared to the same period last year, primarily due to the acquisition of the testing center in April 2019[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 129.60% compared to the previous year[19]. - The basic earnings per share after deducting non-recurring gains and losses increased by 121.05% to CNY 0.42 from CNY 0.19 in the previous year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 131,446,497.45, an increase of 129.60% compared to the previous period[21]. - The net cash flow from operating activities was CNY 95,086,312.97, a decrease of CNY 5,508,476.41 compared to the previous period[21]. - The total assets increased by 30.22% to CNY 4,603,162,643.38 from CNY 3,534,798,049.40 at the end of the previous year[21]. - The net assets attributable to shareholders increased by 3.12% to CNY 2,150,040,890.80 from CNY 2,085,054,118.52 at the end of the previous year[21]. Acquisitions and Investments - The company completed the acquisition of the testing center in April 2019, which contributed to the increase in revenue and assets[19]. - The acquisition of a 58% stake in Jiangsu Provincial Engineering Quality Testing Center Co., Ltd. was completed, making it a subsidiary of the company[30]. - The company plans to construct a project in Taixing City, Jiangsu Province, with an annual production capacity of 620,000 tons of high-performance concrete additives, currently in the preparatory stage[56]. Research and Development - The company has a professional R&D team of nearly 200 people, with significant contributions from recognized experts, including 1 academician of the Chinese Academy of Engineering and 2 recipients of the National Outstanding Youth Fund[42]. - The company has invested over ¥100 million annually in R&D, leveraging its advantages in national key laboratories for significant advancements in new technologies and products[42]. - Research and development expenses rose by 49.68% to CNY 78,495,904.64, reflecting the company's commitment to innovation and the inclusion of the testing center in the consolidated financial statements[49]. Market Position and Competition - The company is a leading supplier of new civil engineering materials in China, ranking first in the concrete admixture industry for several consecutive years from 2014 to 2018[25]. - The concrete admixture industry is experiencing increased market concentration due to strategic cooperation and mergers among leading enterprises[29]. - The company faces market competition risks due to a large number of competitors in the concrete additive industry, which may lead to a decline in profitability[59]. - The company has identified technology risks, as competitors are continuously improving their processes and core technologies[59]. Financial Stability and Risks - The company's total liabilities increased to CNY 2,236,886,378.32 from CNY 1,441,199,491.34, reflecting a rise of about 55.3%[129]. - The company is exposed to raw material price fluctuation risks, particularly due to the impact of international oil prices on production costs[60]. - The company is at risk of human resource challenges due to the need for more high-quality management and technical talent[59]. Shareholder Commitments and Governance - The controlling shareholder, Jiangsu Bote, committed not to transfer or entrust the management of its shares for 36 months post-listing, with an automatic extension of 6 months if the stock price falls below the issue price for 20 consecutive trading days within the first 6 months[1]. - The company will not transfer shares during the stabilization plan period unless approved by non-related shareholders[4]. - The company guarantees that its initial public offering (IPO) prospectus does not contain false records, misleading statements, or significant omissions, and it will bear legal responsibility for its accuracy and completeness[81]. Environmental and Social Responsibility - The company has committed to increasing investment in environmental protection facilities and improving pollution prevention and treatment technology[103]. - The company has established an environmental and occupational health safety management system to enhance its environmental protection measures[103]. - The company has not incurred any penalties for environmental violations during the reporting period[104]. Share Capital and Stock Incentives - The total share capital of the company changed to 310,610,000 shares after the repurchase and cancellation of 30,000 shares on July 18, 2019[108]. - The company implemented a stock incentive plan, which was approved in June 2018[91]. - A total of 5.31 million restricted stocks were granted to 88 incentive objects on July 10, 2018[92]. Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[140]. - The company expects a revenue growth rate of no less than 36% for 2020, based on the 2017 revenue[119].

Financial Performance - Operating revenue rose by 31.12% to CNY 467,581,541.58 year-on-year[6] - Net profit attributable to shareholders increased by 63.70% to CNY 48,746,262.51 compared to the same period last year[6] - Basic earnings per share increased by 60.00% to CNY 0.16[6] - The company's operating revenue for Q1 2019 was CNY 467,581,541.58, representing a 31.12% increase compared to CNY 356,600,034.62 in the same period last year[12] - Net profit for Q1 2019 reached CNY 48,472,082.34, a 64.27% increase from CNY 29,506,902.73 year-on-year[12] - The company's total profit for Q1 2019 was CNY 52,520,314.70, up from CNY 18,067,395.89 in Q1 2018, marking a growth of 191.5%[27] - The total comprehensive income for Q1 2019 was CNY 48,126,432.00, compared to CNY 29,382,812.33 in Q1 2018, indicating a growth of 63.5%[27] Cash Flow and Liquidity - Cash flow from operating activities improved significantly, reaching CNY 38,470,609.49, compared to a negative CNY 46,682,874.72 in the previous year[6] - Cash inflows from operating activities totaled CNY 525,905,909.44, an increase from CNY 400,473,972.62 in Q1 2018[30] - Total cash and cash equivalents at the end of the period increased to ¥335,259,346.26, up from ¥75,426,389.14 in the same period last year[32] - The cash outflow for operating activities was ¥567,357,785.79, compared to ¥494,453,150.07 in the previous year, reflecting an increase of approximately 14.7%[34] Assets and Liabilities - Total assets increased by 2.31% to CNY 3,616,593,840.90 compared to the end of the previous year[6] - Total assets as of March 31, 2019, amounted to CNY 3,616,593,840.90, compared to CNY 3,534,798,049.40 at the end of 2018[16] - Total liabilities as of March 31, 2019, were ¥1,976,006,388.74, compared to ¥1,718,929,901.17 at the end of 2018, reflecting a growth of 15.0%[21] - Shareholders' equity totaled ¥1,641,444,010.75 as of March 31, 2019, up from ¥1,594,441,824.90 at the end of 2018, indicating an increase of 2.9%[21] Expenses - Financial expenses increased by 57.44% to CNY 12,737,052.84, primarily due to higher loan interest payments[12] - Sales expenses rose by 41.57% to CNY 77,976,446.57, attributed to increased product sales and transportation costs[12] - Research and development expenses for Q1 2019 were ¥25,679,428.84, an increase from ¥20,636,304.05 in Q1 2018, showing a commitment to innovation[24] - Research and development expenses increased to CNY 19,371,000.85, a rise of 30.5% from CNY 14,816,907.79 in Q1 2018[27] Shareholder Information - The total number of shareholders reached 23,574 at the end of the reporting period[10] - The largest shareholder, Jiangsu Bote New Materials Co., Ltd., holds 43.78% of the shares[10] Other Income and Gains - The company reported non-recurring gains of CNY 2,696,506.46 for the period[8] - The company reported a substantial increase in other income, which rose by 668.67% to CNY 3,873,701.06, mainly from government subsidies[12] Market and Product Development - The company has not disclosed any new product developments or market expansion strategies in this report[4]

Financial Performance - The company's operating revenue for 2018 was CNY 2,315,957,350.09, representing a year-on-year increase of 37.88% compared to CNY 1,679,657,625.64 in 2017[20]. - Net profit attributable to shareholders increased by 100.61% to CNY 268,395,945.04 in 2018 from CNY 133,788,918.69 in 2017, driven by increased operating profit and compensation for relocation[22]. - Basic and diluted earnings per share rose by 54.39% to CNY 0.88 in 2018, up from CNY 0.57 in 2017, attributed to higher operating profit and relocation compensation[22]. - The company's total assets reached CNY 3,534,798,049.40 at the end of 2018, a 29.34% increase from CNY 2,732,936,239.43 in 2017[21]. - The net profit after deducting non-recurring gains and losses was CNY 146,510,746.80 in 2018, reflecting a 29.33% increase from CNY 113,286,310.60 in 2017[20]. - The company achieved total revenue of CNY 2,315,957,350.09 in 2018, representing a year-on-year growth of 37.88%[43]. - The net profit attributable to shareholders reached CNY 268,395,900, marking a significant increase of 100.61% compared to the previous year[43]. Dividend Policy - The company proposed a cash dividend of 2.4 RMB per 10 shares for the 2018 fiscal year, subject to shareholder approval[5]. - The net profit attributable to ordinary shareholders in 2018 was 268,395,945.04 RMB, with a dividend payout ratio of 27.78%[103]. - In 2017, the cash dividend was 2 RMB per 10 shares, with a total cash dividend of 60,800,000 RMB and a net profit of 133,788,918.69 RMB, resulting in a payout ratio of 45.44%[102]. - The company did not propose a cash profit distribution plan for the reporting period despite having positive distributable profits[104]. - The company’s cash dividend policy remains unchanged, ensuring the protection of minority shareholders' rights[101]. Audit and Compliance - The company received a standard unqualified audit report from Beijing Yongtuo Accounting Firm[4]. - The company assures that the financial report is true, accurate, and complete, with no significant omissions or misleading statements[7]. - The company has not encountered any significant accounting errors or issues with previous auditors during the reporting period[134]. - The audit report confirms that the financial statements fairly reflect the company's financial position as of December 31, 2018[196]. - The company will ensure that the prospectus is truthful, accurate, and complete, bearing legal responsibility for any discrepancies[121]. Research and Development - The company has a professional R&D team of over 160 people and has been granted 431 national patents and 4 international PCT patents[37]. - The R&D expenses for the year were CNY 118,618,653.71, reflecting a growth of 15.67% compared to the previous year[45]. - The company has established a research and development platform recognized by national authorities, supporting innovation and product development[35]. - The company has accumulated extensive industry service experience in major national projects such as nuclear power, hydropower, and high-speed rail[38]. - The company launched iterations of high-performance water-reducing agents in 2018, enhancing its product offerings in the concrete admixture market[29]. Market Position and Competition - The company ranked first in the comprehensive top ten concrete admixture enterprises and the top ten polycarboxylate superplasticizer enterprises in China from 2014 to 2018[29]. - The company is a leading player in the domestic concrete admixture industry, ranking first in the comprehensive top ten evaluations from 2014 to 2018[35]. - The company has a strong market presence, with domestic enterprises holding a significant share of the concrete admixture market, leading to increased competition[33]. - The company faces market competition risks due to the increasing number of competitors and the potential for market share erosion[97]. - The company is actively involved in strategic collaborations and mergers to enhance market concentration and competitiveness[33]. Corporate Governance - The company has implemented measures to stabilize its stock price as part of its commitment to shareholders[105]. - The company commits that the stock will not be transferred or repurchased by the issuer within one year from the date of listing[108]. - The company has established a mechanism for evaluating senior management, promoting accountability and protecting shareholder interests[194]. - The company emphasizes external competitiveness and internal fairness in determining the compensation of directors, supervisors, and senior management[181]. - The company has not faced any penalties from securities regulatory agencies in the past three years[183]. Environmental Responsibility - The company has established and improved environmental protection measures, complying with relevant laws and regulations without incurring penalties during the reporting period[151]. - The company has increased investment in environmental protection facilities and improved pollution prevention and treatment technology[151]. - The company has implemented a comprehensive environmental and occupational health safety management system[151]. - The company actively participated in social responsibility initiatives, donating ¥500,000 to Southeast University and ¥200,000 to the Jiangsu Provincial Poverty Alleviation Foundation[149]. Employee and Management - The company employed a total of 1,249 staff, with 530 in the parent company and 719 in major subsidiaries[184]. - The workforce includes 576 production personnel, 249 sales personnel, 160 technical personnel, 31 financial personnel, and 233 administrative personnel[184]. - The company has established a compensation system aligned with its development goals, ensuring compliance with labor laws and regulations[185]. - The management team emphasizes the importance of innovation in product development to meet evolving market demands[174]. - The company recognizes outstanding contributions through awards and recognition programs for employees annually[185].

Financial Performance - The company's operating revenue for 2018 was CNY 2,315,957,350.09, representing a year-on-year increase of 37.88% compared to CNY 1,679,657,625.64 in 2017[20]. - Net profit attributable to shareholders for 2018 was CNY 268,395,446.12, a significant increase of 100.61% from CNY 133,788,918.69 in 2017[20]. - Basic and diluted earnings per share for 2018 were CNY 0.88, up 54.39% from CNY 0.57 in 2017[22]. - The company's total assets reached CNY 3,534,797,550.48 in 2018, marking a 29.34% increase from CNY 2,732,936,239.43 in 2017[21]. - The cash flow from operating activities showed an improvement, with a net cash flow of -97,766,088.23 in 2018, an improvement of 19.33% from -121,195,582.94 in 2017[20]. - The company achieved total revenue of CNY 2,315,957,350.09 in 2018, representing a year-on-year growth of 37.88%[43]. - The net profit attributable to shareholders reached CNY 268,395,400, marking a significant increase of 100.61% compared to the previous year[43]. - The company's total assets as of December 31, 2018, amounted to CNY 3,534,797,600, with equity attributable to shareholders at CNY 2,085,053,600[43]. Dividend Policy - The company proposed a cash dividend of 2.4 RMB per 10 shares for the 2018 fiscal year, subject to shareholder approval[5]. - The cash dividend distribution represents 27.78% of the net profit attributable to the company's ordinary shareholders for the year 2018[103]. - The company did not propose a cash profit distribution plan for the reporting period despite having positive distributable profits[104]. Audit and Compliance - The company received a standard unqualified audit report from Beijing Yongtuo Accounting Firm[4]. - The company guarantees the authenticity, accuracy, and completeness of the annual report's financial statements[7]. - The company has not reported any significant accounting errors during the reporting period[133]. - There are no outstanding issues regarding the use of funds or collection progress reported for the period[132]. Market Position and Competition - The company ranked first in the comprehensive top ten concrete admixture enterprises in China from 2014 to 2018, highlighting its market leadership[29]. - The company is a leading player in the domestic concrete admixture industry, ranking first in the comprehensive top ten evaluations from 2014 to 2018[35]. - The company has a strong market presence, with domestic enterprises holding a significant share of the concrete admixture market, leading to increased competition[33]. - The company faces market competition risks due to the increasing number of competitors and the potential for market share erosion[97]. Research and Development - The company has a professional R&D team of over 160 people and has been granted 431 national patents and 4 international PCT patents[37]. - The company has established a unique core technology capability in high-performance admixtures, including precise control of molecular weight and structure[38]. - The company has actively participated in national key R&D projects, enhancing its innovation capabilities and market position[36]. - The company’s R&D expenses increased by 15.67% year-on-year, reflecting its commitment to technological advancement[45]. Operational Efficiency - The company aims to improve operational efficiency, targeting a 5% reduction in production costs through process optimization[174]. - The total cost for the current period reached 144,791.93 million, an increase of 38.19% compared to the previous year, primarily due to increased production leading to higher material usage and depreciation[51]. - Direct material costs accounted for 91.80% of total costs, with a current period amount of 133,123.84 million, up 39.42% year-over-year[51]. Shareholder Structure and Management - The company has a structured approach to executive compensation, linking it to performance and market standards[181]. - The total remuneration for all directors, supervisors, and senior management during the reporting period amounted to 11.8586 million yuan[183]. - The company has established a salary system aligned with its development goals, ensuring compliance with labor laws and regulations[185]. - The company is focused on maintaining strong shareholder relationships, with Miao Changwen, Liu Jiaping, and Zhang Jianxiong identified as acting in concert[162]. Future Outlook and Strategic Initiatives - The company plans to invest 138.2 million RMB in a new project to produce 620,000 tons of high-performance concrete additives in Jiangsu Province[88]. - The company aims to enhance its competitive advantage through differentiated competition, focusing on product, service, and brand differentiation[96]. - The company has set a future outlook with a revenue target of 1.8 billion yuan for the next fiscal year, indicating a projected growth of 20%[174]. - The company is expanding its market presence, targeting new regions with a planned investment of 300 million yuan in marketing and distribution[174]. Environmental and Social Responsibility - The company has established an environmental management system and has not faced any penalties for environmental violations during the reporting period[151]. - The company donated CNY 500,000 to Southeast University and CNY 200,000 to the Jiangsu Poverty Alleviation Foundation, supporting education and poverty alleviation efforts[149]. - The company focuses on sustainable practices, improving the utilization rate of industrial waste and reducing cement consumption through its products[30].

Financial Performance - The company's operating revenue for 2018 was CNY 2,315,957,350.09, representing a year-on-year increase of 37.88%[20]. - Net profit attributable to shareholders for 2018 reached CNY 268,395,446.12, a significant increase of 100.61% compared to the previous year[20]. - Basic and diluted earnings per share for 2018 were CNY 0.88, reflecting a growth of 54.39% year-on-year[22]. - The company's total assets at the end of 2018 amounted to CNY 3,534,797,550.48, up 29.34% from the previous year[21]. - The cash flow from operating activities for 2018 was negative CNY 97,766,088.23, an improvement of 19.33% compared to the previous year[20]. - The weighted average return on equity for 2018 was 13.57%, an increase of 2.70 percentage points from 2017[22]. - The net profit after deducting non-recurring gains and losses for 2018 was CNY 146,510,247.88, a year-on-year increase of 29.33%[20]. - The gross profit margin for the concrete admixture segment was 37.37%, with a revenue increase of 37.99% and a cost increase of 38.19%[48]. - The company achieved total revenue of CNY 2,315,957,350.09 in 2018, representing a year-on-year growth of 37.88%[43]. Dividend Policy - The company proposed a cash dividend of 2.4 RMB per 10 shares for the 2018 fiscal year, subject to shareholder approval[5]. - The cash dividend distribution represents 27.78% of the net profit attributable to the company's ordinary shareholders in the consolidated financial statements for 2018[102]. - The company did not propose a cash profit distribution plan for the reporting period despite having positive distributable profits[103]. - The company's cash dividend policy remains unchanged, ensuring the protection of minority shareholders' rights[100]. Audit and Compliance - The company received a standard unqualified audit report from Beijing Yongtuo Accounting Firm[4]. - The company guarantees the authenticity, accuracy, and completeness of the annual report's financial statements[7]. - The audit report confirms that the financial statements fairly reflect the company's financial position as of December 31, 2018[194]. - The company has not reported any progress on the collection of funds or any occupied funds during the reporting period[131]. - There are no significant accounting errors or issues with the previous accounting firm that need to be addressed[133]. Research and Development - The company has a professional R&D team of over 160 people and has been granted 431 national patents and 4 international PCT patents[37]. - The company introduced iterative updates to its high-performance water-reducing agents in 2018, enhancing product performance[29]. - The company has established a unique application technology for concrete admixtures, focusing on high strength, early strength, and self-compacting properties[38]. - The company focuses on continuous R&D investment, enhancing its core technology capabilities in high-performance concrete materials[37]. - The company participated in key technology projects that won national and provincial awards, showcasing its strong R&D capabilities[1]. Market Position and Strategy - The company ranked first in the comprehensive top ten concrete admixture enterprises in China from 2014 to 2018[29]. - The company is a leading player in the domestic concrete admixture industry, ranking first in the comprehensive top ten evaluations from 2014 to 2018[35]. - The company plans to continue focusing on technological innovation and market expansion to strengthen its core business[42]. - The company aims to enhance its product system and market layout by implementing a "two major one new" project strategy[93]. - The company plans to expand its market presence in Southeast Asia, Central Asia, and Africa, leveraging the "Belt and Road" initiative[93]. Risks and Challenges - The company has outlined potential risks in the "Discussion and Analysis of Operating Conditions" section of the report[6]. - The company faces risks from intense market competition, which may lead to a decline in profitability and increased accounts receivable[96]. - The company is at risk of technological obsolescence if it fails to keep up with advancements in core technologies within the concrete additives industry[96]. - The company is exposed to risks from fluctuations in raw material prices, particularly those derived from petroleum products[98]. Corporate Governance - The company has established an investor relations management system to ensure timely feedback from shareholders, including minority shareholders[187]. - The company strictly adheres to the principles of corporate governance as per the Company Law and other relevant regulations[187]. - The company has committed to ensuring that the remuneration system for directors is linked to the execution of return measures[128]. - The company held three shareholder meetings in 2018, all conducted in compliance with relevant laws and regulations[189]. Employee and Management Structure - The company employed a total of 1,249 staff, with 530 in the parent company and 719 in major subsidiaries[182]. - The workforce includes 576 production personnel, 249 sales personnel, 160 technical personnel, 31 financial personnel, and 233 administrative personnel[182]. - The company has established a compensation system aligned with its development goals, ensuring compliance with labor laws and regulations[183]. - The management team emphasizes the importance of innovation in product development to meet evolving customer needs[173]. Shareholder Information - The largest shareholder, Jiangsu Bot New Materials Co., Ltd., holds 136,000,000 shares, representing 43.97% of total shares[161]. - The company has a total of 136,000,000 restricted shares that will become tradable on November 10, 2020, after a 36-month lock-up period[162]. - The total number of shares held by the top ten unrestricted shareholders amounts to 36,000,000 shares[162]. - The company has not disclosed any other shareholders' relationships or agreements beyond the known concerted actions among Miao Changwen, Liu Jiaping, and Zhang Jianxiong[161].

2018 年第三季度报告 公司代码：603916 公司简称：苏博特 江苏苏博特新材料股份有限公司 2018 年第三季度报告 1 / 23 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 7 | | 四、 | 附录 | 10 | 2018 年第三季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人缪昌文、主管会计工作负责人任红军及会计机构负责人（会计主管人员）王莲保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 3 / 23 单位：元币种：人民币 本报告期末 上年度末 本报告期末比上年度末增 减(%) 总资产 3,189,500,218.37 2,732,936,239.43 16.71 归属于上市公司 股东的净资产 ...

Financial Performance - The company's operating revenue for the first half of 2018 was ¥956,200,216.16, representing a 32.17% increase compared to ¥723,448,194.89 in the same period last year[16]. - The net profit attributable to shareholders for the first half of 2018 was ¥174,417,683.22, a significant increase of 151.41% from ¥69,375,144.01 in the previous year[16]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥57,250,249.86, showing a slight increase of 2.34% compared to ¥55,942,503.17 last year[16]. - The basic and diluted earnings per share for the first half of 2018 were both ¥0.57, reflecting a 90% increase from ¥0.30 in the same period last year[18]. - The weighted average return on net assets increased to 9.03%, up by 2.28 percentage points from 6.75% in the previous year[18]. - The net cash flow from operating activities decreased by 118.13%, resulting in a net outflow of ¥5,508,476.41 compared to a net inflow of ¥30,389,225.95 last year[17]. - The total assets at the end of the reporting period were ¥2,904,265,596.99, a 6.27% increase from ¥2,732,936,239.43 at the end of the previous year[17]. - The net assets attributable to shareholders increased by 6.07% to ¥1,987,683,599.80 from ¥1,874,021,710.76 at the end of the previous year[17]. - The company achieved operating revenue of ¥956,200,216.16, representing a year-on-year growth of 32.17%[39]. - The net profit attributable to the listed company was ¥174,417,683.22, reflecting a significant increase of 151.41% compared to the previous year[39]. - Operating cash flow showed a negative net amount of -¥5,508,476.41, a decline of 118.13% from the previous year[42]. - Cash dividends distributed during the reporting period amounted to ¥60,800,000, which did not occur in the same period last year[43]. - The company reported a significant increase in sales expenses, which reached ¥133.61 million, up 35.8% from ¥98.32 million[117]. - The company reported a significant increase in asset disposal gains of ¥12,593,543.41, with no corresponding figure in the previous period[120]. Research and Development - The company holds 409 national authorized patents and 4 international PCT patents, indicating a strong focus on research and development[32]. - The company has a professional R&D team of over 100 people and continues to increase its R&D investment[32]. - Research and development expenses increased by 15.84% to ¥52,444,065.56, indicating a commitment to innovation[42]. - Research and development expenses increased significantly as the company intensified its innovation efforts, contributing to overall financial performance[43]. Market Position and Competition - The company is a leading supplier of new civil engineering materials in China, focusing on the research, production, and sales of concrete additives[24]. - The concrete additive industry in China has a low concentration, with domestic companies holding a significant market share, leading to increased competition among local firms[29]. - The company is positioned to benefit from the increasing safety and environmental regulations in the industry, which may lead to consolidation opportunities[29]. - The company faces market competition risks due to a large number of competitors in the concrete admixture industry, which may lead to a decline in profitability and increased accounts receivable[54]. Shareholder and Corporate Governance - The controlling shareholder, Jiangsu Bote, has committed to not transferring or managing its shares for 36 months post-IPO, with specific conditions for share reduction thereafter[59]. - The controlling shareholders have committed not to transfer or manage their shares for 36 months post-listing, with an automatic extension of 6 months if the stock price falls below the issue price for 20 consecutive trading days[60]. - Directors and senior management have pledged not to transfer their shares for one year after the stock listing, with a limit of 25% of their holdings for annual transfers thereafter[61]. - The company’s major shareholder, Jiangsu Bote, will implement measures to stabilize the stock price within 10 trading days after the shareholders' meeting, including a buyback plan not exceeding 30% of the cash dividends received since listing[63]. - If the stock price stabilization measures are not implemented, the company will publicly explain the reasons and may compensate investors for losses incurred[65][73]. - The company guarantees that the prospectus for the initial public offering does not contain false statements or omissions, and will take responsibility for any inaccuracies[74]. - In the event of a recognized false statement in the prospectus, the company will formulate a plan to repurchase all new shares within 20 working days[75]. - The company will ensure that any repurchase price will not be lower than the initial issue price plus interest, adjusted for any corporate actions like dividends[75]. - Shareholders are restricted from transferring their shares during the stabilization period unless approved by non-related shareholders[69]. - The company will actively take measures to protect investor rights and may establish a compensation fund for direct economic losses suffered by investors[75]. - The company’s stock price stabilization measures will remain in effect even if there are changes in the controlling shareholder's status during the implementation period[70]. - The controlling shareholder, Jiangsu Bote, confirmed that the prospectus for the initial public offering (IPO) does not contain false records, misleading statements, or major omissions, and assumes legal responsibility for its authenticity, accuracy, and completeness[76]. - Jiangsu Bote will compensate investors for losses if the IPO prospectus is found to have false records or misleading statements that cause investor losses in securities trading[77]. - Jiangsu Bote guarantees to vote in favor of proposals related to buybacks and compensation at the shareholders' meeting if the IPO prospectus is deemed to have significant impacts on the issuer's compliance with legal issuance conditions[78]. - The company and its controlling shareholders have committed to not interfere in the company's management activities and not to infringe on the company's interests[79]. Assets and Liabilities - The company's total assets as of June 30, 2018, amounted to CNY 2,904,265,596.99, an increase from CNY 2,732,936,239.43 at the beginning of the period, reflecting a growth of approximately 6.25%[110]. - Current assets totaled CNY 1,723,919,262.77, up from CNY 1,566,072,332.38, indicating an increase of about 10.05%[110]. - The company's cash and cash equivalents decreased to CNY 115,111,382.79 from CNY 145,284,562.80, representing a decline of approximately 20.73%[110]. - Accounts receivable rose to CNY 997,584,145.32 from CNY 966,631,553.29, marking an increase of about 3.06%[110]. - Inventory increased significantly to CNY 191,009,866.09 from CNY 131,566,555.47, reflecting a growth of approximately 45.00%[110]. - Total liabilities reached CNY 909,541,323.38, compared to CNY 852,216,227.85 at the beginning of the period, showing an increase of around 6.73%[112]. - The company's equity attributable to shareholders rose to CNY 1,987,683,599.80 from CNY 1,874,021,710.76, indicating an increase of approximately 6.05%[112]. Corporate Structure and Subsidiaries - The company operates 17 subsidiaries, all of which are fully owned or controlled[144]. - The company established a wholly-owned subsidiary in Malaysia, acquiring 51% of SOBUTE NEW MATERIALS (M) SDN. BHD. for 1.3 million Malaysian Ringgit to expand its overseas market presence[52]. - The company has included a new subsidiary, SOBUTE NEW MATERIALS (M) SDN.BHD, in its consolidated financial statements for this period[147]. Compliance and Legal Matters - There are no major litigation or arbitration matters during the reporting period[83]. - The company and its controlling shareholders have maintained good integrity, with no instances of failing to fulfill court judgments or significant debts that have not been repaid during the reporting period[84]. - The company has not disclosed any significant related party transactions during the reporting period[88]. - There were no significant changes in accounting policies or estimates compared to the previous accounting period[94]. - The company has not faced any penalties for environmental violations during the reporting period[93]. - The company has established an environmental management system to enhance pollution prevention and control measures[92]. Accounting Policies and Financial Reporting - The financial statements comply with the requirements of the enterprise accounting standards, reflecting the company's financial position and operating results accurately[150]. - The company's accounting period runs from January 1 to December 31 each year[151]. - The company uses RMB as its accounting currency[153]. - The consolidated financial statements are prepared based on control, with subsidiaries being entities controlled by the company[159]. - The company will not adjust the beginning balances of the consolidated balance sheet for subsidiaries acquired under non-common control during the reporting period[160]. - The company will include the income, expenses, and profits of newly acquired subsidiaries in the consolidated profit statement from the acquisition date to the end of the reporting period[160]. - The company recognizes goodwill when the acquisition cost exceeds the fair value of identifiable net assets acquired in a non-common control merger[158]. - The company will account for any loss of control over subsidiaries by re-measuring the remaining equity investments at fair value on the date control is lost[160]. - The company adjusts the capital reserve in the consolidated balance sheet for the difference between the long-term equity investment acquired through minority stake purchases and the identifiable net asset share of subsidiaries based on the newly held share ratio[161]. - The company recognizes the difference between the disposal price and the corresponding share of net assets of subsidiaries as other comprehensive income before losing control, which is transferred to profit or loss upon loss of control[161]. Inventory and Asset Management - Inventory includes raw materials, work in progress, finished goods, low-value consumables, and packaging materials[178]. - The company uses the perpetual inventory system for inventory management[179]. - Inventory is measured at the lower of cost and net realizable value, with provisions for inventory write-downs recognized in the current period if the cost exceeds the net realizable value[179]. Employee and Compensation Policies - The company implemented a restricted stock incentive plan, granting a total of 5.31 million shares to 88 incentive objects on July 10, 2018[85]. - The company has not disclosed any employee stock ownership plans during the reporting period[87]. - Short-term employee compensation is recognized as a liability and included in the current period's profit and loss[196]. - The company classifies post-employment benefits into defined contribution plans and defined benefit plans, with specific accounting treatments for each[197].